Which do you prefer, CEXs or DEXs?

[EthereumDev_]

1. I prefer to use CEX if I consider the comfort and the varied features for trading.
2. Sure. I want to avoid KYC on the CEX but it is impossible. So I just choose the most reputable CEX although I still need to follow KYC there.
3. I don't believe it because most people prefer using CEX. They also can be easier to withdraw to the banks through CEX.

Of course, everyone has different desires and comfort, but regarding Cryptocurrency exchange places, I would suggest looking for an exchange place that has a high system security and perhaps also has guarantees or insurance for the assets you store at the exchange place so that when something bad happens does not endanger your assets.

[KryptoBull]

Maybe this feels strange. but to be honest, so far, I prefer CEX. This is strange, isn't it? Moreover, many people don't like CEX because it requires KYC. but what else, I also use CEX the most often by far. But that doesn't mean you've never used CEX at all. It's just that, whatever it is, in the end it will end up on CEX too. Because this is what makes it easier for me to cash out someday to a bank account. This is quite a dilemma, but because it is so commonplace, it is more comfortable to use the features of some exchanges which happen to be CEX.

If we are a normal investor and participate in the market with the purpose of seeking profits, CEXs KYC is not a big problem. CEXs only pose a risk of being hacked or collapsing and millions of users will lose their funds. I also consider KYC and centralization to be an integral part of this market as it provides maximum liquidity to help the market continuously grow.

To protect our account, we can use multiple CEXs at the same time or store part of our assets in a personal wallet. I don't hate CEXs, I'm afraid of the potential risks of CEXs but still use CEXs

[PX-Z]

Fortunately and unfortunately, i used CEX for trading bitcoin and use DEX for trading alts, like eth and bnb tokens. So asking if what i prefer, well it's obvious, both of them but it all depends on what i need at the moment. Bitcoin is always in CEX because of many options to trade in p2p. While DEX for alts and tokens because of the availability of the exchange where to trade and you cant find these tokens to CEX or reputed DEX.

[Gurujebs]

Fortunately and unfortunately, i used CEX for trading bitcoin and use DEX for trading alts, like eth and bnb tokens. So asking if what i prefer, well it's obvious, both of them but it all depends on what i need at the moment. Bitcoin is always in CEX because of many options to trade in p2p. While DEX for alts and tokens because of the availability of the exchange where to trade and you cant find these tokens to CEX or reputed DEX.

The problem with Dex for me is the liquidity insufficiency, it's difficult to trade altcoins in equivalent to the price of what it's actually trading in centralized exchanges. In addition, if the liquidity is very limited, trading becomes a challenge because the slippage will be low but when you try it in a centralized exchange, it goes smoothly because of the book order that are always liquid to trade.

However, I don't like centralized exchanges because of the kyc thing, it has its own benefit using a centralized exchanges but pray you don't be a victim of government just like the way Nigeria government is demanding top 100 users on Binance who were trading NGN to USDT that cause a lot of volatility to naira depreciation.

[KryptoBull]

The problem with Dex for me is the liquidity insufficiency, it's difficult to trade altcoins in equivalent to the price of what it's actually trading in centralized exchanges. In addition, if the liquidity is very limited, trading becomes a challenge because the slippage will be low but when you try it in a centralized exchange, it goes smoothly because of the book order that are always liquid to trade.

However, I don't like centralized exchanges because of the kyc thing, it has its own benefit using a centralized exchanges but pray you don't be a victim of government just like the way Nigeria government is demanding top 100 users on Binance who were trading NGN to USDT that cause a lot of volatility to naira depreciation.

We are still in the early stages of the crypto era, so both CEXs and DEXs have many problems. The problem with DEXs and many small CEXs is liquidity for tokens with small market capitalization. You can focus on investing in more popular tokens, they often have good liquidity on DEXs.

CEXs are a crypto company and need to comply with legal regulations. KYC is gradually becoming mandatory for CEXs to be able to continue and exist in order to ensure liquidity for the development of the market. The incident with Binance in Nigeria is a setback in the development of the crypto market, the government arresting unauthorized people to demand that Binance provide user information without providing clear or convincing evidence. I agree that this is also one of the risks for CEX users.

[Trongduy]

I would like to know your opinion on CEXs and DEXs:

• Which do you prefer, CEXs or DEXs, and why?
• For CEX users: Does KYC concerns impact your choice of CEXs?
• For DEX users: Do you believe DEXs have the potential to completely replace CEXs in the future?

I'm used to using CEX because it's simple and convenient, and I don't have much money so I'm not afraid of losing it. If you want to be safer, you can transfer the tokens to your personal wallet. When you need to sell, you just need to send it to the exchange for a few minutes to sell. Some tokens available on DEX are okay to connect to the wallet and trade right away, but the cost is quite high and I don't have a need to regularly trade, and BTC doesn't have any DEX to support it so I don't use.

Earning BTC on Binance is quite good for USDT, sometimes up to 10% per year, higher than savings interest in banks. Those who stake tokens like RON earn a higher APR, those who have BNB can receive airdrops from launchpool, CEX has many fun things that DEX doesn't have yet. I have little money so I don't worry about the floor breaking down.

[Mr. Magkaisa]

1. I prefer to use CEX if I consider the comfort and the varied features for trading.
2. Sure. I want to avoid KYC on the CEX but it is impossible. So I just choose the most reputable CEX although I still need to follow KYC there.
3. I don't believe it because most people prefer using CEX. They also can be easier to withdraw to the banks through CEX.

Of course, everyone has different desires and comfort, but regarding Cryptocurrency exchange places, I would suggest looking for an exchange place that has a high system security and perhaps also has guarantees or insurance for the assets you store at the exchange place so that when something bad happens does not endanger your assets.

      -    Honestly speaking, if Cex and Dex help me and give me profits or benefits, I don't need to buy from those two, in my opinion. They are equally helpful to anyone; in fact, as long as you have knowledge of trading, we can use CX and DX to carry out trading activity.

And the only difference is that Cex has KyC and Dex doesn't. Now it's up to the choice or decision of those who use the platform what they want, whether it's KyC or not; that's all it really is.

[LogitechMouse]

Both CEXes and DEXes are good and beneficial in every investor in whatever way it is.

I would like to know your opinion on CEXs and DEXs:

• Which do you prefer, CEXs or DEXs, and why?
• For CEX users: Does KYC concerns impact your choice of CEXs?
• For DEX users: Do you believe DEXs have the potential to completely replace CEXs in the future?

1. CEX. The problem with DEXes as of this moment is the amount of tokens that it supports. I find it hard to move from one DEX to another just to buy a token that I want. I guess Metamask can do it's thing, but I find it more convenient to use CEXes like Binance, and Bitget than DEXes. The amount of features most CEX has currently is enough for investors to use it more than those DEXes right now. I guess what's attractive with DEXes right now is the fact that you can earn money thru providing liquidity on their pools.

2. Nowadays, most of the CEX requires KYC already, and I really wanted to use CEX like Binance so it doesn't impact me at all. It bothers me a bit because of the fact that you're giving away your personal information to some strangers online, but most don't really care if they will be more comfortable buying and selling the tokens different tokens.

3. No. Centralized Exchanges right now is large enough that DEX can't replace it anymore. The fact that these CEXes has lots of features to attract investors to use their platform is enough for them to stay on using it, and just completely ignore those DEXes out there.

[KryptoBull]

I'm used to using CEX because it's simple and convenient, and I don't have much money so I'm not afraid of losing it. If you want to be safer, you can transfer the tokens to your personal wallet. When you need to sell, you just need to send it to the exchange for a few minutes to sell. Some tokens available on DEX are okay to connect to the wallet and trade right away, but the cost is quite high and I don't have a need to regularly trade, and BTC doesn't have any DEX to support it so I don't use.

Earning BTC on Binance is quite good for USDT, sometimes up to 10% per year, higher than savings interest in banks. Those who stake tokens like RON earn a higher APR, those who have BNB can receive airdrops from launchpool, CEX has many fun things that DEX doesn't have yet. I have little money so I don't worry about the floor breaking down.

It is normal and common for newcomers to worry that they will not be able to keep their private keys safe and lose access to the crypto assets in their accounts. CEXs are clearly a more friendly and familiar choice: easy to buy and sell right on the smartphone through an application, can quickly sell tokens for cash.

Many people also like to keep USDT on exchanges to earn profits, such as OKX which previously had a pretty good APR, or Binance recently also paid higher interest, I think it is because many traders borrow USDT to invest so the demand for USDT reserves of CEXs is quite large. CEX users just need to avoid letting their devices get infected with malware, then it is quite safe.

Both CEXes and DEXes are good and beneficial in every investor in whatever way it is.

1. CEX. The problem with DEXes as of this moment is the amount of tokens that it supports. I find it hard to move from one DEX to another just to buy a token that I want. I guess Metamask can do it's thing, but I find it more convenient to use CEXes like Binance, and Bitget than DEXes. The amount of features most CEX has currently is enough for investors to use it more than those DEXes right now. I guess what's attractive with DEXes right now is the fact that you can earn money thru providing liquidity on their pools.

2. Nowadays, most of the CEX requires KYC already, and I really wanted to use CEX like Binance so it doesn't impact me at all. It bothers me a bit because of the fact that you're giving away your personal information to some strangers online, but most don't really care if they will be more comfortable buying and selling the tokens different tokens.

3. No. Centralized Exchanges right now is large enough that DEX can't replace it anymore. The fact that these CEXes has lots of features to attract investors to use their platform is enough for them to stay on using it, and just completely ignore those DEXes out there.

Most investors probably feel the same way, and we still see CEXs continuously gaining new users instead of losing them over time. CEXs are still the simplest and most convenient option for new or experienced users, because CEXs provide extremely good liquidity, which DEXs cannot yet achieve. CEXs are also multichain platforms, and users do not need to worry about which chain their crypto assets are on and how to interact with them, through which wallet application...

I hope DEXs will develop more, have better liquidity, and we can use DEXs easily and at a lower cost in the future. DEXs have added many more services but still need a lot of time to catch up with CEXs. I think the development of cross-chain solutions will be one of the main drivers that will help users use DEXs more regularly.

[Cryptsafe]

OP, frankly speaking, I do not like cex but I have no option than using it for my trading and other relevant crypto currency activities.  So far most of the features on cex can likely not be seen on dex as a result of making dex not too open for  seem less transaction.

I believe the cex came all this way to aid most people who are not too familiar with blockchain and crypto so they could be able to survive and benefit by introducing   all features so they could be able to get acquainted with the platforms and things about it. Although cex has it issues of hacking and lots more which is detrimental to both the cex and customers but it is okay compared to the technicalities involved in the dex.

[milewilda]

OP, frankly speaking, I do not like cex but I have no option than using it for my trading and other relevant crypto currency activities.  So far most of the features on cex can likely not be seen on dex as a result of making dex not too open for  seem less transaction.

I believe the cex came all this way to aid most people who are not too familiar with blockchain and crypto so they could be able to survive and benefit by introducing   all features so they could be able to get acquainted with the platforms and things about it. Although cex has it issues of hacking and lots more which is detrimental to both the cex and customers but it is okay compared to the technicalities involved in the dex.

We do love anonymity but not on the sense that we could really make use of DEX on day to day trading and other features or services on which CEX have. Yes, its really that contradictory but
we cant really deny that it is really that way more accessible and more that convenient on our part but of course there would really be those in exchange like your anonymity considering these platforms would really be having that KYC and there's nothing we can do about it but honestly it isnt really just that a problem though because in exchange is on the benefits
and the advantageous thing that you could really be having in exchange.

[gunhell16]

OP, frankly speaking, I do not like cex but I have no option than using it for my trading and other relevant crypto currency activities.  So far most of the features on cex can likely not be seen on dex as a result of making dex not too open for  seem less transaction.

I believe the cex came all this way to aid most people who are not too familiar with blockchain and crypto so they could be able to survive and benefit by introducing   all features so they could be able to get acquainted with the platforms and things about it. Although cex has it issues of hacking and lots more which is detrimental to both the cex and customers but it is okay compared to the technicalities involved in the dex.

We do love anonymity but not on the sense that we could really make use of DEX on day to day trading and other features or services on which CEX have. Yes, its really that contradictory but
we cant really deny that it is really that way more accessible and more that convenient on our part but of course there would really be those in exchange like your anonymity considering these platforms would really be having that KYC and there's nothing we can do about it but honestly it isnt really just that a problem though because in exchange is on the benefits
and the advantageous thing that you could really be having in exchange.

Well, actually, if we are talking about daily trade, if I have done it on any Dex platform, my answer is no. Although it's been several times that I've been able to buy cryptocurrency on the Dex platform, I only do holdings.

Then just take a peek sometimes, but of course you should also save the seed and password because this will be our key anytime we open our wallet accounts on the Dex platform via metamask, whether it's using Sol, BSC, Matic, or Eth.

[robelneo]

The vote so far reflects the community's choice
CEXs 7 100%
DEXs 0 0%
From my perspective and my experience, it's easier to refer newbies and explain to them how a CEX works than on DEX, on DEXes there are so many technicalities that the new investors you are trying to help invest will have a hard time understanding.
While on CEX it's like they are using social media, and if they want support to address their issues right away something you cannot find on many DEXs

[Altcoin1998$]

Both centralized and decentralized exchanges are needed but in my opinion decentralized exchanges are risk free than centralized exchanges. Decentralized exchanges require no third-party permission to access decentralized exchanges, in which case you can access them anytime, anywhere through your security system, and buy or sell your assets if you want.can do Decentralized exchanges do not require you to do KYC verification with personal documents. Central exchanges, on the other hand, require you to gain access to the third party's permission, and in this case, all your dollar or crypto assets must be owned by the third party, and you cannot use your virtual assets without the third party's permission. But BitcoinBoth exchanges are equally important in the life of the currency.

[TopT3ns]

The vote so far reflects the community's choice
CEXs 7 100%
DEXs 0 0%
From my perspective and my experience, it's easier to refer newbies and explain to them how a CEX works than on DEX, on DEXes there are so many technicalities that the new investors you are trying to help invest will have a hard time understanding.
While on CEX it's like they are using social media, and if they want support to address their issues right away something you cannot find on many DEXs

Yes, you are right, the DEX system is currently not much in demand by traders from whales to traders who are still beginners because as you mentioned, CEX is easier to use and makes more sense.